DGCX Earns Positive Assessment from EU Securities Markets Regulator

The exchange has now been listed as a third-country trading venue (TCTV).

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) announced that it has received positive assessment from the EU securities markets regulator. The European Securities and Markets Authority (ESMA) confirmed that the exchange has met the post-trade transparency requirements under MiFID II and MiFIR. The exchange has now been listed as a third-country trading venue (TCTV).

The exchange qualified for the positive assessment after meeting all the criteria set out in the ESMA Opinion. The market regulator has acknowledged DGCX’s post-trade transparency aspect which enables it to publish the transactions as soon as possible after execution. Accordingly, the instruments traded on the exchange are no more considered as Over-The-Counter (OTC) transactions. Also, the firms that execute trades on the exchange could save costs, by not having to publish details of each transaction.

RELATED NEWS:

DGCX Currency Portfolio Recorded Robust Volume Surge

DGCX Gold Futures Continued Buoyant Trading

Commenting on the achievement, Les Male, CEO, DGCX noted that the exchange is extremely delighted to have met the high standards set by the MiFID II and MiFIR regulations. He termed it as a significant milestone, not only for the exchange but also for the country. The move is expected to boost the accessibility of the exchange among European investors and its collaboration with institutions across the European region.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index